Chartered Accountant
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Corporate News *  Tax rates lowered on consumer goods,only luxury goods taxed @ 28% *   Businesses can revise GST transition claim form now *  Multiplex owners in UP demand clarity on refund as tax exemptions go away after GST *   GST compliance: A case of much ado about nothing *  PM hints more relief for traders & businesses to ease GST compliance burden *  Infosys deploys more people in states to ease GSTN load *   Further reforms are needed for the GST to succeed *   GST impact! Massive stock clearance discounts on apparels, gadgets likely in December *  Kerala HC releases Detained Goods since State has No Power to make Rules to regulate Inter-State movement of Goods under GST *  Infosys is to blame for GST Network glitches, say government officials *   Publishers versus authors: Who will pay GST on royalty? *   कपड़ा निर्यातकों ने कहा, जीएसटी के कारण भारत से शिपमेंट में आ सकती है भारी कमी *   Tax professionals protest over GST returns filing in Gujarat *  Publishers versus authors: Who will pay GST on royalty? *   Pilot Implementation of Paperless Processing under SWIFT *   Anti-dumping duty levied on the imports of " Color Coated/ Pre-Painted flat products of alloy or non-alloy steel " s *   Anti-dumping duty levied on the imports of "Wire Rod of Alloy or Non- Alloy Steel "   *   Exemption on goods imported by EOUs from integrated tax and compensation cess   *   Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver  *   Appointment of Common Adjudicating Authority by DGRI  *   Amendment in various Customs exemption notifications to exempt Integrated Tax/Cess on import of goods under AA/EPCG schemes  *   BCD and IGST rates on certain goods prescribed   *   Amendment in rates of supply of services  *   Integrated Tax rate on the leasing of motor vehicles prescribed.  *   RCM to apply on supply of Used vehicles, seized and confiscated goods, old and used goods, waste and scrap  *   Amendment in notification no. 8/2017-IT dated 14.09.2017 so as to add certain items to the list of “handicrafts goods”  *   Exemption to few goods from GST  *   Amendment in rates of goods *   Applicability of RCM on Supply of services by the members of Overseeing Committee to Reserve Bank of India  *   RCM on supplies from unregistered dealers postponed till 31.03.2018 
Subject News *  Refund of unutilized input tax credit of GST paid on inputs in respect of exporters of fabrics vide cicular no 18/2017 GST dt 16.11.17 *   CBEC prescribes procedure for manual filing and processing of refund claims for zero rated supplies *  Suppliers of services through an e-commerce platform are exempted from obtaining compulsory registration *  All taxpayers  exempt from payment of tax on advances received in case of supply of goods *  Changes in Tax rate of permanent transfer of Intellectual Property *  GST on Services by way of admission to protected monuments shall be exempted. *  Relevant Notification to be issued shortly, so as to be made available from 15th of November'17 *  Late fee payable for those where a tax liability arises will be Rs. 50/- per day. *  Supply of services by Composition taxpayer upto Rs 5 lakh per annum will be allowed *  Restaurants in hotel premises having room tariff of less than Rs 7500 per unit per day will attract GST of 5% without ITC. *  Restaurants in hotel premises having room tariff of Rs 7500 and above per day (even for a single room) will attract GST of 18% with full ITC. *  Job work services in relation to manufacture of those handicraft goods in respect of which the casual taxable person has been exempted from registration, shall be reduced to 5% with full ITC. *  All restaurants to levy 5% GST except 5-star ones. *  Tax rate on Bangles made out of lac/shellac has been reduced from 3% to Nil. *  GST rate on Fly Ash bricks has been reduced from 12% to 5%. *  GST rate has been reduced from 18% to 12% for Furniture wholly made of bamboo or cane. *  Tax Rate on Goods of Granites and marbles have been reduced from 28% to 18%. *  Gst rate on Guar meal has been reduced from 5% to nil. *  All stand-alone restaurants irrespective of air conditioned or otherwise, will attract 5% GST without ITC. *  Uniform rate of tax @ 1% under composition scheme for manufacturers and traders. *  Services provided through E-commerce platform shall be exempt from obtaining compulsory registration. *  Due date of TRAN-1 extended till 31.12.2017 along with one time option of revision. *  Due date of GSTR-4 for the quarter July-Sept,2017 revised to 24.12.2017. *  Due date of ITC-04 for the quarter July-Sept,2017 revised to 31.12.2017. *  A facility for manual filing of application for advance ruling shall be introduced. *  Late fee payable where tax liability for that month is ‘NIL’will be Rs. 20/- per day *  Late Fee of GSTR-3B will be re-credited to Electronic Cash Ledger under “Tax” head instead of “Fee” head. *  The time period for filing GSTR-2 and GSTR-3 for the months of July, 2017 to March 2018 would be worked out. *  Extension of due date for filing GSTR-1 till March, 2018 for taxpayers with annual aggregate turnover upto Rs. 1.5 crore. *  Filing of GSTR-3B extended till March,2018 by 20th of the Succeeding month.  

Comments

Notification no. 60/2011-Customs dt 14.07.2011 amended. 

See notification no 73/2017-Cus,dt. 18-08-2017in What’s new

Department News


Query

 
PRADEEP JAIN, F.C.A.

Head Office : -

Address :
"SUGYAN", H - 29, SHASTRI NAGAR, JODHPUR (RAJ.) - 342003

Phone No. :
0291 - 2439496, 0291 - 3258496

Mobile No. :
09314722236

Fax No. :0291 - 2439496


Branch Office : -

Address:
1008, 10th FLOOR, SUKH SAGAR COMPLEX,
NEAR FORTUNE LANDMARK HOTEL, USMANPURA,
ASHRAM ROAD, AHMEDABAD-380013

Phone No. :
079-32999496, 27560043

Mobile No. :
093777659496, 09377649496

E-mail :pradeep@capradeepjain.com